#Bitcoin Under Pressure, Will BTC Drop to $18.5k?
Past Performance of Bitcoin
Despite market-wide optimism, BTC prices are in a tight trade range, underperforming and under pressure when writing. A notable development in the past 24 hours is that sellers are still in charge, and prices are pinned below 20.7k. As it is, traders can find unloading opportunities to liquidate, targeting 18.5k in a bear trend continuation formation.
#Bitcoin Technical Analysis
Currently, sellers are in control, and the path of least resistance is defined to be southwards. The bearish engulfing bar of September 13 anchors the current trend, swinging favorably to sellers. Therefore, since prices are below 20.7k and the primary trend is southwards, aggressive traders can align with the dominant trend with targets at 18.5k. This preview will hold as long as prices are trading below 22.7k or September 13 highs. Any sharp upthrust above yesterday's conspicuous bar would see BTC bulls flow back in alignment with gains of June and August 2022.
What to Expect from #BTC?
Traders are apprehensive, and the established trend is back to red. Since BTCUSDT prices are in a tight trade range and bulls are unable to sustain the uptrend, the coin can easily tumble to 18.5k. In the short term, losses below 19.7k might accelerate the sell-off towards September lows.
Resistance level to watch out for: 20.7k
Support level to watch out for: 19.7k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Despite market-wide optimism, BTC prices are in a tight trade range, underperforming and under pressure when writing. A notable development in the past 24 hours is that sellers are still in charge, and prices are pinned below 20.7k. As it is, traders can find unloading opportunities to liquidate, targeting 18.5k in a bear trend continuation formation.
#Bitcoin Technical Analysis
Currently, sellers are in control, and the path of least resistance is defined to be southwards. The bearish engulfing bar of September 13 anchors the current trend, swinging favorably to sellers. Therefore, since prices are below 20.7k and the primary trend is southwards, aggressive traders can align with the dominant trend with targets at 18.5k. This preview will hold as long as prices are trading below 22.7k or September 13 highs. Any sharp upthrust above yesterday's conspicuous bar would see BTC bulls flow back in alignment with gains of June and August 2022.
What to Expect from #BTC?
Traders are apprehensive, and the established trend is back to red. Since BTCUSDT prices are in a tight trade range and bulls are unable to sustain the uptrend, the coin can easily tumble to 18.5k. In the short term, losses below 19.7k might accelerate the sell-off towards September lows.
Resistance level to watch out for: 20.7k
Support level to watch out for: 19.7k
Disclaimer: Opinions expressed are not investment advice. Do your research.
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。